Apple on Monday released iPhoto 9.1.5, the latest version of its image organization and editing application. The update, a 108 megabyte download which can be be snagged via Mac OS X’s Software Update feature, offers the following major fixes and changes:

– The date range of each event now updates correctly to reflect changes made to photos using the Adjust Time and Date command.

– Addresses an issue that could cause the Photos view to scroll incorrectly when Event Titles are displayed.

– Fixes a problem that could prevent Ken Burns animations from being applied correctly on photos in a saved Classic slideshow.

– Deleting photos from a web album using the contextual menu now removes them from the album without deleting them from the library.

– Addresses an issue that could prevent a crop adjustment from being removed from a photo when using the Revert to Original command.

iPhoto 9.1.5 retails for US$49 as part of iLife ’11 and requires Mac OS X 10.6.6 or later to install and run.

If you’ve tried the update and noticed any changes, please let us know.

If you remember your economics class, an old supply and demand chart should pop into your head.

Those charts are applicable.

Per AppleInsider, having recently hit the 15 billion download milestone, a new analysis has found that downloads from Apple’s iOS App Store will increase 61 percent in calendar year 2011, while the average selling price of software will be up 14 percent.

Analyst Gene Munster with Piper Jaffray published on Monday his latest App Store model, including average selling prices, for the official iOS digital download destination. The new numbers reflect Apple’s announcement from last week that more than 15 billion applications have been downloaded by more than 200 million iPhone, iPad and iPod touch users.

Munster estimates that the average iOS user will download 83 applications in calendar year 2011, up from 51 in calendar year 2010. That’s an increase of 61 percent year over year.

“We believe this trend points to the increasing importance of an app store with a broad selection of tested apps to drive device sales,” Munster wrote. “Smartphone users are showing an increasing appetite to use apps to add features to their phones, and iOS has the leading app ecosystem.”

Piper Jaffray’s App Store model also indicates that paid application average selling prices are on the rise in 2011. Munster said the data shows prices up 14 percent year-over-year in calendar year 2011, compared to the 18 percent decline seen by paid applications in 2010.

“After the initial race to the bottom in App Store pricing, we are seeing users pay up to add features and games to their iOS devices,” he said.

Using Apple’s announced figures, the App Store model suggests that 82 percent of applications on the iOS App Store are free, while 18 percent are paid. Those paid applications have an average selling price of US$1.44.

Munster attributed the increase in 2011 at least partially to more expensive iPad applications that are gaining share among App Store downloads. The average selling price of the top 10 iPad applications is US$6.32, up 36 percent from US$4.66 a year ago. Meanwhile, the top 50 iPhone applications have an average price of US$1.61.

The App Store model also shows that iPhone, iPad and iPod touch users are now downloading more than 32.3 million applications per day. That’s nearly triple the 11.9 million-per-day rate of tracks downloaded from Apple’s iTunes Music Store.

Apple does not profit greatly from its iOS App Store, and Piper Jaffray estimates that the company’s 30 percent share of all sales amounts to just 1 percent of its total revenue. More importantly for Apple, though, the App Store drives sales of iOS devices — something that Munster admitted is hard to quantify.

“Even though our qualitative analysis does not factor in the sale of additional devices, we believe the App Store drives device sales,” he said. “We see a virtuous cycle of Apple’s robust app ecosystem adding features and functionality to the iOS devices, which drives sales, which makes the ecosystem more robust, which encourages more developers to write apps, and the cycle repeats itself.”

Per TechRadar, HDMI Org, the group that oversees HDMI specifications, has deemed Mini DisplayPort to HDMI cables outside of its standard and will not allow them to be sold.

The group explained that “the HDMI specification defines an HDMI cable as having only HDMI connectors on either end. Anything else is not a licensed use of the specification and therefore, not allowed.”

All licensed HDMI products must undergo compliance testing. Given the fact that the cable is undefined by the group, “it cannot be tested against the Specification,” thereby making it unofficial and
unlicensed.

This outcome is devastating for the numerous companies that make money from these cables, though there is one upside. Cables, or dongles, that have a DisplayPort on one end and an HDMI female receptacle on the other are licensed.

HDMI Org does, however, note that there are users who covet this type of cable system, stating that recognizes that there “may be a market need for a cable solution rather than a dongle solution. However, at this time, there is no way to produce these cable products in a licensed manner.” According to the report, hundreds of thousands of cables could be affected by a recall.

Apple reportedly developed a Mini DisplayPort to HDMI adapter but never released it, relying instead upon third-party offerings .

First introduced in October 2008, the Mini DisplayPort connector is used by Apple in its latest Mac offerings. The standard was designed by Apple as a smaller form factor alternative to the DisplayPort standard. The Video Electronics Standard Association officially adopted the specification in 2009.

More recently, Apple and Intel have collaborated on Thunderbolt, a new high-speed I/O technology that makes use of the Mini DisplayPort connector. The first generation of Thunderbolt offers two channels of 10Gbps transfers in both directions, simultaneously, and 10 watts of power. Intel expects to scale the technology up to transfer rates of 100Gbps within a few years.

Late last month, Apple released the first Thunderbolt cable and added the first third-party Thunderbolt storage solutions to its online store. The cable was revealed to be an active cable with a transceiver chip at each end and “tons of little resistors.”